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Assign a foreign currency to a customer in QuickBooks

by Intuit•2• Updated 1 month ago

Learn how to assign a foreign currency to your customers so you can record transactions in the currency they pay you.

If a customer uses a different currency from yours, and you’ve turned on Multicurrency in QuickBooks Online Essentials or Plus, you can set their currency when adding them. This ensures their transactions are recorded correctly.

Assign a foreign currency when adding a new customer

Follow these steps if you’re adding a new customer and want to set their currency.

  1. Go to Customers & leads and select Customers (Take me there).
  2. Select New customer.
  3. In the Customer information window, select the customer's currency from the Currency dropdown field. This is the currency that the customer uses to pay you for products or services.
  4. Fill out the required information and select Save.

After you turn on multicurrency (which you can do from a web browser by following the steps here), you can choose who pays you with a foreign currency.

  1. From the Menu ☰, select Customers.
  2. Select + to add a new customer.
  3. Enter the customer’s details.
  4. Under Customer pays me with, select the correct currency.
  5. Select Done.

Note: You can follow the same steps to assign a foreign currency to a supplier by selecting Pay This Supplier With and then select the currency.

Change the currency for an existing customer

Once a customer has transactions recorded in a currency, you can’t change their currency directly. Here’s what you can do instead.

  1. Make the existing customer inactive. Your previous transactions with the customer stay in QuickBooks.
  2. Add the customer again following the steps above, and assign the correct currency.

From now on, all new transactions for the customer will use the new currency.

QuickBooks Online EssentialsQuickBooks Online PlusQuickBooks Online Simple Start

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